Where former political leaders go after their time in the Beehive
Wednesday, 2 May 2018
Joining a board after leading the country has increasingly become the next obvious career step for politicians, the Institute of Directors says.
On Tuesday former prime minister Bill English announced his appointment to the board of Australian retail giant Wesfarmers which owns Kmart, Target, and Bunnings Warehouse, just months after his predecessor John Key was appointed as chair of ANZ's board.
Head of the institute's governance leadership centre, Felicity Caird, said the career transition was easy for high-profile politicians because of their broad experience, particularly on social and environmental issues.
'Boards are operating in a far more complex environment, with stakeholder engagement, social and environmental becoming a priority for businesses. Political leaders are wanted because of their ability to see the big picture,' Caird said.
READ MORE:
* Bill English appointed as director of Wesfarmers
* Sir John Key to chair ANZ board
* Helen Clark takes job at Global Commission on Drug Policy
New Zealand Leadership Institute director Vicky Watson said English being on the board of Wesfarmers made sense as it was looking to expand its Bunnings operation, especially in the South Island.
'Bill English won't be wearing his prime minister hat on the board, that would be unethical and inappropriate,' she said.
'Wesfarmers will benefit greatly from his financial experience especially. Also as prime minister, he was held accountable and asked questions about all sectors, which shows how broad his knowledge is.'
Caird said English's move to an Australian board was good publicity for New Zealand.
'Whenever any high-profile New Zealander gets a high profile role overseas, [it's} good for the country. If an international business has an interest in New Zealand, it makes sense for them to have a representative of that country on their board.'
She said it was also important for businesses and individuals to carry out their due diligence to ensure they were a perfect fit for each other.
Where did they go after politics?
Former prime minister Helen Clark went on to work for the United Nations Development Programme (UNDP) as an administrator, after almost nine years in office.
Clark, who last year lost her bid to become the next Secretary-General of the United Nations, has now taken up a new role as a member of the Global Fund, which aims to reform drug policy in order to reduce societal harm.
The country's first female prime minister, Jenny Shipley,, has been chair of Genesis Energy since 2009. But she got caught up in a legal suit in 2015 over an alleged breach of directors' duties during her time at Mainzeal.
Shipley resigned from her board role shortly before the firm's collapse.
The hearing is set down to take place later this year.
In 1991 Sir Douglas Graham was justice minister in a National-led government, and laid the foundation stone for the new Wellington High Court.
About 20 years later, he was back in court, and found guilty of making false statements as a director of the failed company Lombard Finance.
Former prime minister John Key faced calls for Graham to lose his knighthood, but decided not to do so.
Former prime minister Jim Bolger was appointed as chairman of NZ Post's board in 2001 but was replaced by former finance minister Michael Cullen in 2010.
Bolger was also chair of Kiwi Rail's board of directors from 2003 to 2010.
Michael Cullen is now the former chairman of NZ Post and was appointed to the board of the Auckland Council-controlled organisation Auckland Transport last year.